Pakistan’s Weekly Inflation Decreases by 1.70%
Published on: October 21, 2023.
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Weekly Inflation in Pakistan Drops by 1.70%
The weekly inflation in Pakistan, as measured by the Sensitive Price Indicator (SPI), decreased by 1.70% during the week ending on October 19, according to the recent report released by the Pakistan Bureau of Statistics (PBS) on Friday.
Comparing the data provided by the PBS, the Combined Index stood at 278.04, showing a drop from 282.86 on October 12, 2023. Furthermore, it is worth noting that the index was recorded at 205.27 during the same period last year, on October 20, 2022.
Out of the 51 items taken into consideration, the average prices of 14 items experienced an increase, while the prices of 24 items decreased. Thirteen items remained stable, indicating no significant change in their prices.
Some notable decreases in prices were observed in items such as Onions (8.45%), Chicken (5.46%), Pulse Masoor (3.38%), Sugar (3.07%), Garlic (2.24%), Rice Basmati Broken (2.17%), Gur (2.17%), Bananas (1.56%), and Non-food items including Petrol (12.31%), Diesel (4.68%), and LPG (1.17%).
Conversely, certain items witnessed an increase in prices. This includes Eggs (3.44%), Salt Powdered (2.63%), Shirting (2.18%), Mutton (1.01%), Beef (0.84%), Cooked Beef (0.72%), Georgette (0.52%), Washing Soap (0.48%), Tea Prepared (0.34%), Cooked Daal (0.34%), Potatoes (0.25%), and Firewood Whole (0.22%).
When analyzing the weekly SPI percentage change by income groups, it was observed that SPI decreased across all quantiles, ranging between 0.88% and 2.02%.
In conclusion, the recent report from the Pakistan Bureau of Statistics highlights a decrease in weekly inflation in Pakistan. This presents a positive outlook for the country’s economy as the prices of various essential items have decreased, providing some relief to consumers.
